Member Info for Helpful

These things are news driven:

Gold hasn't moved up further: waiting on confirmation that the Migori license paperwork has been completed; waiting on the next information on Victoria (likely to be the NC 43-101); waiting on DRC news (doesn't open up till 15/07); waiting on news on the JMS iron ore assets (likely to be confirmation of appointment of advisers).

But you know all that because, well you are an expert and read everything, don't you?

DYOR

Yep the past as in say the last twelve months but going back ten years???

Yeah clutching at straws... you said the same at 0.15p you saddo.

Anyway any thoughts on Fosterville South? Good news for those active in Victoria, hey?

https://twitter.com/RRR_RedRock/status/1288472606400749569?s=20

More lies.

Ongoing admin expenses were £282k so on a full year basis £564k. Project costs are non-recurring and are incurred as and when we do work on them. We know that costs have been reduced further: I would expect admin to come out at about £500k for the full year.

https://www.lse.co.uk/rns/RRR/half-year-report-8hiadp3rx2qe9re.html

DYOR

https://www.investegate.co.uk/article.aspx?id=201212141413455923T

· Mineralisation at all prospects remains potentially open at depth (including down plunge) and along strike of key higher grade zones.

Some mineralised portions of the deposit remain open at depth or along strike. These areas of open mineralisation as well as any gaps in information or potentially coherent higher grade shoots will be targeted in future resource development work. Detailed delineation drilling will only be completed to upgrade the Resource to Measured category as part of a feasibility study should there be areas where the Indicated mineralisation is considered likely to be sufficient to generate mineable Reserves in the near term.

In this case "open" means that there is more.

This is the more... https://www.investegate.co.uk/red-rock-resources--rrr-/rns/exploration-update---migori-project--kenya/201312111048242731V/

Work stopped because of the legal dispute.

BFS

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/update---kenya-and-colombia/201401171226439517X/

DYOR

https://www.munknee.com/how-to-value-a-junior-miners-gold-in-the-ground/

That trade was agreed Monday morning and got put through yesterday because the people at VP bank had issues about settling with the counterparty. I know both sides of the trade and set it up.

As usual DYOR.

Well as usual you show you know nothing.

You think that stuff has to be dug out of the ground for there to be value. There are lots of companies with mining assets that are not producing and have huge valuations. Take a look at Fosterville South: https://www.valuethemarkets.com/2020/05/21/fosterville-south-exploration-tsx-vfsx-pursuing-a-new-frontier-in-high-grade-gold-exploration/

Fostervill South has a market capitalisation of about CAD$290mil/£145mil: https://web.tmxmoney.com/quote.php?qm_symbol=FSX&locale=en

People keep saying "getting the Migori licenses back" but RRR never lost them: it has to have them resissued under the Kenyan Mining Act 2016 as part of the court settlement from October 2018. That process is nearly complete as AB said on Monday.

These mining projects have value inflection points: when the Migori licenses are reissued shortly, RRR will have the mother and father of all inflection points.

Unlike other license awards, RRR already has a JORC in place and a JV lined up (check AB's various statements). Once the JV is sorted out and completed, I expect the first job is uprate the JORC to the current standards and take it up to 2mil ounces.

Separately, the Victoria JV has confirmed that it has commissioned an NC 43-101 on Victoria and that should be out in a few weeks.

Why not look up gold in the ground valuation methodologies?

DYOR

Didn't you ask yesterday why 2012 was relevant? It is partly because you are intent on going back 8 years. You invested 8 and ten years ago and lost your money because you didn't understand what you were doing. You blame Andrew Bell but you should look in the mirror.

RRR has a 1.2mil Oz JORC for Migori in the hard rock and 60k in the tailings: it was in the books for £5.6mil. What was the gold price in 2011 and what is it now? If you ever did any reading and checked the gold price you would see it is around $1,935. Migori would less interesting when gold was $1,100 then when it is $1,935. Again your comments confirm you don't understand investing and never did.

AB has said multiple times that the JORC was a first stage and the intention was to upgrade: he thinks that there is certainly 2mil Oz is there and possibly up to 4mil Oz. At $1,935 heading to $2,500 that makes Migori very interesting.

DYOR

https://twitter.com/RRR_RedRock/status/1288104494224625664?s=19

https://www.proactiveinvestors.com.au/companies/amp/news/925292?__twitter_impression=true

Down the road from the JMS iron ore assets.

https://twitter.com/andrew_neal7/status/1287660053110165504?s=19

https://twitter.com/Gulag_CP/status/1286602485021450240?s=19

My view is that RRR will complete the JV on Migori, keep Blue Ribbon in Victoria and list the other Victoria assets on TSX with the JV keeping a royalty.

Let's see.

DYOR

Tragic,

you don't understand investments, you don't understand negotiations, you don't understand financial instruments, you don't understand trading, you don't understand the market making system. No wonder you lost all your money. You had better check out soon because things are likely to get worse for you pretty soon.

A few minutes ago you thought that the CLNs automatically converted into shares at 0.6p. You are the ultimate expert who understands nothing. The CLNs convert at the CLN holder's election and not otherwise or they are redeemed at the redemption date or they are rolled over. What is the record? Two years of ramping and then 8 years of whining?

I look forward to converting and exercising my warrants well north of here.

DYOR

Tragic, I know where all the CLNs are: no one is converting at 0.6p. The conversion right belongs to the CLN holder. The company cannot accelerate the conversion. Again, this is you demonstrating you know nothing. If you were seriously interested in understanding RRR, I might let you see the paperwork but as you just a troll you can forget it.

The CLN holders carry no equity risk at the moment: as soon as they convert they assume equity risk. Why would anyone give up a 12% coupon to convert at 0.6p and sell in the market?

Your main issue is that didn't understand about investing when you lost all your money on RRR and you understand no more now.

DYOR

Tragic you really are a numpty who understands nothing.

The CLNs have a coupon of 12%. For every day the CLNs are outstanding, I accrue interest at the rate of 12% pa. If was going to convert at 0.6p and sell at 0.6p why wouldn't I wait till 19/12/2020 when the company pays me back? If I did convert with the price near to 0.6p then I would take the risk of having to sell in the market at less than 0.6p and I would have to reinvest the proceeds somewhere which returned better than 12% pa.

From the company's point of view, they would love me to convert because it cleans up the balance sheet, they don't to provide for the 12% interest and they don't have to worry about having to repay me on 19/12/2020.

I know you love to post all this stuff but it looks to me that you haven't learned anything since you lost all your money in 2012.

Anyway, looking good for RRR: fingers cross and ps I have warrants at 0.75p and 0.9p too.

Keep your pecker up.

DYOR

Except it hasn't been the same for the last ten years, has it?

I don't know why the deal was done and I don't know if they know each other, much less are they buddies. I will post later when I have time. I am in the middle of stuff.

DYOR

Well Steelmin was fantastic first time around but he went back into it against my advice. I have made my point clear on Steelmin to his face and on here but again Steelmin is done and dusted. Steelmin was 2 years ago.

As to Elephant Oil, it is fine. I expect that will proceed when the oil price is back up. I have discussed it in detail with people who are in a position to understand what is possible and not possible. But again on Elephant Oil what did he put in? https://www.proactiveinvestors.co.uk/companies/news/108798/red-rock-and-elephant-oil-take-stakes-in-each-other-108798.html

If you want to discuss what is in Benin B in detail, I am quite happy to do so: I know it inside out and backwards. Elephant was done five years ago and the amount invested was miniscule compared to the value of Migori or Victoria or DRC or JMS.

Elephant is an asset in the back pocket, valued at nil which will come good during 2021.

PS I couldn't care less whether you agree with me or not: you don't do analysis, you just wail, Andrew Bell.

DYOR

Well this is the problem: people who invested ten or more years ago, still hanging around.

What happened ten years ago is not relevant to RRR today.

RRR didn't have the DRC three years ago. It has taken eight years but RRR is on the verge of having the Migori license reissued under the Kenyan Mining Act 2016. RRR didn't have the Victoria JV six months ago. The JMS iron assets and the attendant royalty and royalty sale stage payments have been dormant since 2012. JMS is expanding output at Tshipi. RRR's metals prices are rising: gold, iron, manganese, copper, gold.

Look at the three month chart: anyone who invested over the last three months and exited has made good money but according to you that is not possible because ..... Andrew Bell.

What matters is the current assets, what are they worth, what is the route to monetisation, is the value going up or down. Things are going well for RRR and have been for about four months.

Hold on to your hat.

DYOR

Tragic, you are the one keeps posting extracts from the accounts from 2012/13/14/15 etc. Perhaps you don't know what you are posting: who would have guessed?

No I am not locked in, I hold CLNs and have been paid two lots of annual interest. I am very happy to hold the CLN and accrue interest on a daily basis. Unlike you, I have only ever made money on RRR.

Anyway, you need to think up some new deramps, insults accusations etc

Watch this space Tragic.

DYOR